AVATAR Industries Ltd
AVATAR Industries Ltd (formerly ASL Industries) is a Mumbai-based listed holding/technology company. After a takeover and management change, legacy steel-parts manufacturing was shut and the main object changed to IT & computer services in May 2025. The name changed effective April 6, 2026. [1] [2]
- Market Cap ₹ 226 Cr.
- Current Price ₹ 217
- High / Low ₹ 258 / 63.0
- Stock P/E 526
- Book Value ₹ 34.1
- Dividend Yield 0.00 %
- ROCE 1.53 %
- ROE 1.22 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
Cons
- Stock is trading at 6.38 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 0.84% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Automobile and Auto Components Auto Components Auto Components & Equipments
Part of Nifty SME Emerge
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 44.74 | 55.66 | 56.45 | 70.76 | 67.27 | 13.42 | 10.46 | 8.15 | -0.02 | -0.19 | -0.00 | -0.00 | |
| 41.35 | 50.06 | 48.54 | 67.85 | 65.38 | 14.29 | 12.10 | 8.74 | 0.41 | 0.57 | 0.27 | 0.14 | |
| Operating Profit | 3.39 | 5.60 | 7.91 | 2.91 | 1.89 | -0.87 | -1.64 | -0.59 | -0.43 | -0.76 | -0.27 | -0.14 |
| OPM % | 7.58% | 10.06% | 14.01% | 4.11% | 2.81% | -6.48% | -15.68% | -7.24% | ||||
| 0.24 | 0.29 | 0.21 | 0.46 | 0.16 | 5.21 | 2.84 | 2.55 | 2.61 | 1.25 | 0.36 | 0.68 | |
| Interest | 1.79 | 2.37 | 3.73 | 3.16 | 2.96 | 1.55 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Depreciation | 1.75 | 2.92 | 3.40 | 3.43 | 3.83 | 0.35 | 0.22 | 0.01 | 0.01 | 0.01 | -0.00 | -0.00 |
| Profit before tax | 0.09 | 0.60 | 0.99 | -3.22 | -4.74 | 2.44 | 0.98 | 1.95 | 2.17 | 0.48 | 0.09 | 0.54 |
| Tax % | 111.11% | 20.00% | 49.49% | -31.06% | -28.27% | 11.89% | 60.20% | 22.56% | 25.35% | 25.00% | 11.11% | 20.37% |
| -0.00 | 0.48 | 0.49 | -2.22 | -3.40 | 2.15 | 0.39 | 1.51 | 1.63 | 0.36 | 0.09 | 0.43 | |
| EPS in Rs | -0.00 | 0.63 | 0.64 | -2.13 | -3.26 | 2.06 | 0.37 | 1.45 | 1.56 | 0.35 | 0.09 | 0.41 |
| Dividend Payout % | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% | -0.00% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| TTM: | % |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | -3% |
| 5 Years: | 75% |
| 3 Years: | -36% |
| TTM: | 378% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 62% |
| 3 Years: | 78% |
| 1 Year: | 197% |
| Return on Equity | |
|---|---|
| 10 Years: | -1% |
| 5 Years: | 2% |
| 3 Years: | 1% |
| Last Year: | 1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 7.62 | 7.62 | 7.62 | 10.42 | 10.42 | 10.42 | 10.42 | 10.42 | 10.42 | 10.42 | 10.42 | 10.42 |
| Reserves | 17.58 | 17.98 | 18.48 | 23.26 | 19.75 | 21.23 | 21.16 | 22.67 | 24.31 | 24.61 | 24.62 | 25.06 |
| 21.36 | 31.04 | 33.09 | 28.42 | 26.02 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | |
| 9.67 | 10.05 | 12.10 | 13.45 | 7.11 | 4.55 | 0.44 | 0.06 | 0.37 | -0.04 | 0.10 | 0.14 | |
| Total Liabilities | 56.23 | 66.69 | 71.29 | 75.55 | 63.30 | 36.20 | 32.02 | 33.15 | 35.10 | 34.99 | 35.14 | 35.62 |
| 32.98 | 37.87 | 37.59 | 37.93 | 40.49 | 2.73 | 0.03 | 0.03 | 0.02 | 0.02 | -0.00 | -0.00 | |
| CWIP | 1.66 | 2.10 | 5.40 | 5.67 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Investments | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | -0.00 | 0.35 |
| 21.55 | 26.68 | 28.26 | 31.91 | 22.77 | 33.43 | 31.95 | 33.08 | 35.04 | 34.93 | 35.14 | 35.27 | |
| Total Assets | 56.23 | 66.69 | 71.29 | 75.55 | 63.30 | 36.20 | 32.02 | 33.15 | 35.10 | 34.99 | 35.14 | 35.62 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -4.26 | 0.26 | 13.15 | -2.42 | 4.62 | -17.24 | -4.25 | -0.69 | 0.36 | -0.30 | -0.02 | 0.69 | |
| -18.84 | -5.49 | -6.44 | -3.76 | -0.85 | 42.89 | 4.13 | 0.02 | -0.00 | -0.00 | 0.06 | -0.35 | |
| 23.54 | 5.88 | -7.24 | 5.98 | -4.23 | -24.96 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | |
| Net Cash Flow | 0.44 | 0.65 | -0.54 | -0.20 | -0.46 | 0.68 | -0.12 | -0.67 | 0.36 | -0.30 | 0.04 | 0.34 |
| Free Cash Flow | -22.93 | -8.17 | 6.65 | -6.31 | 3.82 | 24.50 | -0.96 | -0.69 | 0.36 | -0.30 | -0.00 | 0.69 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -126% | 5% | 168% | -77% | 244% | 1,982% | 240% | 117% | -84% | 32% | -19% | -571% |
Ratios
Standalone / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 31.74 | 35.15 | 36.14 | 39.41 | 26.53 | 97.64 | 130.86 | 4.03 | -547.50 | -38.42 | ||
| Inventory Days | 131.67 | 178.21 | 213.35 | 172.40 | 116.14 | 281.74 | -0.00 | -0.00 | -0.00 | -0.00 | ||
| Days Payable | 24.50 | 76.33 | 107.36 | 90.32 | 43.38 | 12.20 | ||||||
| Cash Conversion Cycle | 138.91 | 137.03 | 142.13 | 121.49 | 99.29 | 367.17 | 130.86 | 4.03 | -547.50 | -38.42 | ||
| Working Capital Days | -27.33 | -5.77 | -32.46 | -2.48 | -23.39 | 715.04 | 1,062.20 | 1,465.82 | 621,777.50 | 66,756.58 | ||
| ROCE % | 5.24% | 6.01% | 8.20% | -0.35% | -2.89% | -0.75% | -0.09% | 6.03% | 6.40% | 1.38% | 0.26% | 1.53% |
Insights
In beta| Feb 2017 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Number of Employees count |
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Extracted by Screener AI
Documents
Announcements
-
Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Submitted Regulation 74(5) certificate for quarter ended 30 September 2026.
-
Shareholders meeting
- AVATAR Industries submitted 35th AGM voting results and scrutinizer’s report on 28 September 2026.
-
Shareholders meeting
- AVATAR Industries held its 35th AGM on 28 September 2026; approved financials, director reappointment and auditor appointment.
-
Trading Window
- Trading window closed from 1 October 2026 for half-year results ending 30 September 2026.
-
Record Date
- Record date set for 35th AGM on 21 September 2026; AGM on 28 September 2026 via VC.
Annual reports
-
Annual Report 2026
from nse
-
Annual Report 2025
from nse
-
Annual Report 2024
from nse
-
Annual Report 2023
from nse
-
Annual Report 2022
from nse
-
Annual Report 2021
from nse
-
Annual Report 2020
from nse
-
Annual Report 2019
from nse
-
Annual Report 2018
from nse
Business Overview:
The Co. is focusing on AI enterprise solutions, software/IT, analytics, digital infrastructure and consulting—an early-stage strategy, not an established operating track record. [1] [2]